Bitcoin Forum

Someone started the falling knife this morning. I wouldn't go long if I were you guys. It's time to short it down to 3 bucks.  :-\

I wonder if that wall at 6 will hold...

CES is tomorrow.

Bitcoin will be on TV on friday. ( https://bitcointalk.org/index.php?topic=55171.0 )




Today is a very bad day to short, IMO.

New wall at 6.17. Bid/ask starting to look bullish again.

The wall at 6.17 is a flasher. I reckon it will disappear with any serious selling into it...

Why don't you try it?

I have nothing to sell :D

It is now $6.22, bitcoin is holding up well, I am hoping for it to drop more before entering

Then the market doesn't care about you opinion until you think it's time to buy.

here goes!

what an anticlimax

You need a break from the keyboard.

Am

The falling knife ain't going to happen.  If it falls a dollar, there will be a lot of purchasing to take advantage of the new price, the price hikes will continue.

shorting now is risky. very risky. DON'T forget to stop losses; do what zhoutong tells you: don't let the margin call be your stoploss!!

im long anyway, aimed at price: 6.5 - 6.8, bought at 6.1something, stoploss 5.87something
bad thing: just yesterday i wondered if i should trust my senses/what i see on the charts and try a short. would have payed :(

good luck. i suggest long. trend looks unbroken.

i would get out of the way if you're short.

pay heed to what i've been posting about overnite futures, etc.

Some falling knife there. Whooooooosh ;D

Notice the spike to 6.9 first.

That's what I'm talking about. looks like we're going up from here though that was a weird selloff.

Delicious MtGox action.  

$6.30 to $6.89 instant spike, then to $6, and back to $6.38.  Let's hear it for stability!

Big buy followed immediately by a smaller sale, looks to me like someone is covering their tracks.

+1 it is a bad day for short

It is very characteristic that all threads like this one were started after the correction was virtually over and just before the current rally.

+1

+2  it is a bad day for short

http://i1.imageban.ru/out/2012/01/10/62d13c2a902d682c52e95244c869ab1c.jpg

How many now time there where CES, well, the presentation isn't cancelled?

lol, that's gold. :D

you guys see this?  you better get the heck out of the way.  that light coming down the tunnel is a train:

https://i.imgur.com/HDlTB.png

Ha ha - you reminded me to remove my 'price stabilizing bid walls' when I walk away from the computer :)

Hmm - and now it seems to be impossible to do!  MtGox is goxing again.

Wait what? What's the time scale on this picture?

Oh this is the last few hours, isn't it?

we've got the Dow, S&P, Transports, oil all over the October highs.  I called this back on 10/6/11.

the next hurdle will be the May highs which i think we exceed as well.

this is all a result of the Liquidity Pump which is on its way and subtly being enacted currently.   

this will jack Bitcoin big time in a continuation of Wave 3.

Wave is right. Gonna be a dang big fucker too  :o

Isn't it kind of sad that many of us can recognize that graph on sight?  And could label the axes if needed?

"All I see now is blonde, brunette, redhead..."

The current problem is that bitcoinica again shows * at the buy button - all bitcoinica USD is spent.  Some will liquidate their bitcoinica positions and then some others will use the freed USD to go long - but it will not push the price any higher.  We need to wait with the rally until new money arrives to MtGox - and in the mean time a  correction is coming.

https://bitcointalk.org/index.php?topic=57178.msg682091#msg682091 (https://bitcointalk.org/index.php?topic=57178.msg682091#msg682091)
Look at the date of my post and chart  ;)

Muuhahahahaha!!! ^^^^

And Slurp. How can people sell them sub 7$??? Fools

Traders already know this information, and thus it is already reflected in the trading price.

It's hard to tell because MtGoxLive is, as usual, not working during all this activity, but from bitcoincharts it looks like in the past 30 minutes or so we had another ~20,000BTC dump.

Am I missing something, hasn't bitcoin had a presence at CES all week? :-\

(edit, via MtGox and bitpay obviously)

The asks are piling up pretty high - higher than they were before the recent selling/buying activity.

Some people learned at CES about bitcoin and liked it, then they will be reminded about it with the TV show on Saturday.  They'll start thinking about playing it next week and make the decision to try it out in two weeks, start playing with small money in 3 weeks and test it for another month.  In about 2 months some of them will be ready to invest some real money and this will make a huge difference.  But in the mean time many leveraged bitcoinica positions will be wiped out.

I'm at the point where I'm willing to pay MtGox a fee to be able to have a reliable live data feed.  This is so annoying.

It seems mine is still working, but if I open one in a new tab, it's not.
So, don't refresh :)

The price is affected by volume of buying and selling. Nerds who become interested in bitcoin at CES arent just dropping to the floor to crack their laptop to wire 200k off to japan to auto-buy some bitcoins. Personally I'm pretty sure nerds ALL have heard of bitcoins anyways. Now if MtGox could show up at a FOREX trading conference....that might have a much bigger effect.

That is an excellent point.

In some sense bitcoin would allow you to cheat on the forex?

I don't think so. Or am I missing a point?

Or do we just want there volume?



About the falling knife:  seems to happens a bit more with every new published block

Cheat!? I think the PC term is arbitrage opportunities ;)

I meant forex traders would like to come help "speculate" in this no rules trading cage match.

That's OK.  Seems to me, speculation only helps this novel market, since it is decentralized and all transactions are public.

so where's the knife?

We stuck it in the bears.

the knife defeated gravity!

http://bigduck.co/wp-content/uploads/2011/flying-blade.jpg

The flying knife doesn't give a shit about triangles and Elliot waves.
It is known.

...falling up and up and up and up  ;D

I thought I was stuck with a whole bunch of expensive bitcoins when the price kept falling to $6.25 and below.  I was pleasantly surprised when I woke up this morning to see someone had bought all of them up at a profit.  If the price continues to go up then so be it.  But I'm glad I got out of a losing position.

This.

True we need to start focusing on the financial world. We already got all the techies on board, now lets bring all the people with the money.

This. I just made a related thread, but here's another flashy example.

What the heck, seriously? Is this what people are holding Bitcoins for right now, getting the people with the fiat money and taking said money ASAP? How the hell is this different from what the governments try to do?

Bitcoin is not intended as a get-rich-quick scheme. We do need some speculation, and certainly want the speculators to get fair profits, but it's not supposed to be a lottery, pyramid scheme, or other construct to redistribute wealth. Our market cap is good for the moment, it might even be overbought, why can't people just let it rest for now?

in other words, stop being so greedy, assholes. go ruin world economies if you want to speculate prices to hell. this forum is for the growth and prosperity of the bitcoin project.

falling knife gonna falling knife

RISK=ON

Waiting for the falling knives after I sold off, still waiting.  It is now slightly below $6 but is still looking too strong to be falling knives.

It's funny how folks apply these terms to Bitcoin. This isn't simply a currency or commodity, but the discovery of a fundamental technology. I think everyone here by now recognizes that Bitcoin cannot fail in the long run without a great deal of effort applied against it. While I appreciate the work exchanges have put into making Bitcoin accessible to non-miners, they have created nothing more than a game for gamblers by allowing such rapid price updates. Maybe they simply need the game to generate revenue to improve operations. I don't begrudge them for recognizing the opportunity. The whole Bears v Bulls threads have become a game of gambits. I'll just keep buying Bitcoin to supplement my mining. Enjoy your games.

Gaming is just a hobby that lots of people enjoy so as to make it an non-definitive one at that.  The book isn't the cover and the map isn't the territory -- remember where you are:  the "shallow" Web.

much love to my fellow BTC believers [knowers] :)

Fixed!

 ;)